The Rise of the Venture Debt Market
Podcast: Credit Funds: The Benefits, Challenges and Applications of Treaty Fund Structures When Investing in Credit
Private equity investments
Debt Financing Trends – Joe Price, Member, Corporate & Securities Practice
Types of Crowdfunding
The macro-economic landscape of recent years, marked by rising interest rates and inflationary pressures, has significantly escalated borrowing costs in the European mid-market. This has prompted borrowers to explore...more
For the sixth consecutive year, Dechert is the contributing editor of the International Comparative Legal Guide - Private Equity. The guide, now in its tenth edition, is one of the most comprehensive comparative guides to...more
High yield activity in the US, Europe and APAC revives after a tricky period, but markets remain uncertain moving into the final months of 2024 High yield bond issuance across the US, Europe and APAC rallied in H1 2024....more
Despite three recent landmark UK restructuring plan decisions, uncertainty remains around the value, if any, a plan company should offer dissenting creditors as the “deliverability price” of a plan....more
On 26 March 2024 the Prudential Authority published, for public comment, the revised proposed directive on loss absorbency requirements for banks, bank controlling companies and branches of foreign institutions under...more
The U.K. Jurisdiction Taskforce has published a consultation relating to its proposed Legal Statement offering guidance on the application of English insolvency law principles to digital assets. The proposed Legal Statement...more
Strategic carve-outs continue to present a strong business case, as companies shed non-core assets and position themselves for growth - Carve-outs remain a popular route to growth, with many European businesses...more
In the inaugural edition of Debt Download, we covered recent trends in the U.S. debt finance markets. This month, we take a look at what’s happening in the U.K. and Europe....more
Over the past decade there has been an influx of small- and medium-sized entrants to the U.K. gas supplier market, which is supervised by Great Britain’s independent energy regulator, the Office of Gas and Electricity Markets...more
Key Points - - The UK Supreme Court has affirmed directors' duty to consider creditors' interests. - The timing for the duty to be engaged is pushed back to when a company is bordering on insolvency. - Once the...more
UK Supreme Court gives important judgment on directors’ “creditor duty” The UK Supreme Court in BTI 2014 LLC v Sequana SA and ors [2022] UKSC 25 has given an important judgment clarifying the nature of the so-called “creditor...more
On Thursday, 22 September 2022, the UK Financial Conduct Authority (FCA) held a webinar and Q&A session aimed at clarifying the FCA's expectations of office holders, lawyers and consultants navigating insolvencies and...more
Key Point The - UK government's proposals to only partially implement a new UNCITRAL Model Law means that creditors of English law debts who do not consent to a foreign restructuring proceeding will still have recourse to...more
Securitisation is a widely used method of raising debt finance on capital markets through the issue of asset-backed securities. Typically, income-producing assets are used as collateral backing for the issue of securities by...more
Wave power is a type of hydroelectric power that relies on the capture of energy held by ocean waves. Like wind and solar power, wave power has the potential to be a valuable part of the energy transition. The potential...more
Pre-packaged administration sales (where a sale of key assets is agreed prior to the appointment of administrators and then implemented by the administrators immediately following their appointment), have been a widely-used...more
The European debt and equity markets shrugged off the impact of a nearly total shutdown due to COVID-19 at the end of the first quarter of 2020 to rebound with strong performances in the second half of the year. As activity...more
Despite political and economic uncertainties, markets and deal activity were resilient in 2019, and strong fundamentals remain in place heading into 2020. Companies continue to face a challenging litigation and enforcement...more
In 2019, a wave of bond-to-bond refinancings, as well as significant bank and term loan-to-bond refinancings, punctuated a strong year for debt financings after a slow first quarter. Throughout last year, debt investors...more
Costs associated with LIBOR's discontinuation could tip the scale in favour of fixed-rate loans in real estate finance. LIBOR's phasing out in 2021 is set to shake up the real estate finance market, amplifying the appeal...more
Danny Tricot (London, capital markets): Capital markets in Europe were generally positive in 2017, recovering from a mixed year in 2016. The first half of the year was particularly strong for high-yield issuances in Europe,...more
Some interesting links we found across the web this week: 'Regtech' startups see more business in Trump era - Startups are beginning to react to the looming possibility of deregulation under the incoming...more
On June 23, the UK electorate took the historic decision to leave the European Union, a process that has never been undertaken by any member state. While the vote itself does not trigger the process of exit from a legal...more
The United Kingdom has voted to leave the European Union. The vote is not legally binding but Prime Minister David Cameron has already acknowledged that the will of the people must be followed. We consider the key preliminary...more
We discuss below changes to UK tax law in respect of corporate debt which take effect from the beginning of this year which will improve the UK tax position for distressed debt of a UK company....more